Carolina Financial’s (CARO) “Hold” Rating Reiterated at Stephens

Stephens restated their hold rating on shares of Carolina Financial (NASDAQ:CARO) in a report issued on Monday, July 29th, AnalystRatings.com reports. They currently have a $37.00 price target on the financial services provider’s stock.

A number of other research analysts have also recently commented on CARO. BidaskClub raised Carolina Financial from a sell rating to a hold rating in a report on Saturday, July 27th. Zacks Investment Research cut Carolina Financial from a hold rating to a sell rating in a report on Monday, July 15th. Raymond James set a $39.00 price objective on Carolina Financial and gave the stock a buy rating in a report on Monday, July 15th. Sandler O’Neill cut Carolina Financial from a buy rating to a hold rating and set a $38.00 price objective on the stock. in a report on Friday, April 26th. Finally, ValuEngine cut Carolina Financial from a hold rating to a sell rating in a report on Saturday, June 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $38.20.

NASDAQ CARO traded up $0.17 during trading hours on Monday, reaching $34.09. The company’s stock had a trading volume of 16,753 shares, compared to its average volume of 63,279. The firm’s 50-day moving average price is $34.58 and its 200-day moving average price is $35.42. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Carolina Financial has a 1 year low of $27.62 and a 1 year high of $42.45. The company has a market capitalization of $759.18 million, a price-to-earnings ratio of 11.92 and a beta of 1.00.

Carolina Financial (NASDAQ:CARO) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. Carolina Financial had a return on equity of 10.85% and a net margin of 28.60%. The company had revenue of $45.51 million for the quarter, compared to analysts’ expectations of $45.64 million. Equities research analysts anticipate that Carolina Financial will post 2.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.06%. Carolina Financial’s dividend payout ratio (DPR) is 12.59%.

Several institutional investors and hedge funds have recently modified their holdings of CARO. Bank of New York Mellon Corp grew its position in Carolina Financial by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 283,739 shares of the financial services provider’s stock valued at $8,395,000 after acquiring an additional 6,441 shares during the last quarter. Advisor Group Inc. grew its position in shares of Carolina Financial by 34.3% during the 4th quarter. Advisor Group Inc. now owns 3,765 shares of the financial services provider’s stock worth $111,000 after buying an additional 961 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Carolina Financial by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 759,329 shares of the financial services provider’s stock worth $22,469,000 after buying an additional 94,043 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Carolina Financial during the 4th quarter worth $209,000. Finally, Geode Capital Management LLC grew its position in shares of Carolina Financial by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 231,619 shares of the financial services provider’s stock worth $6,853,000 after buying an additional 21,279 shares in the last quarter. 56.41% of the stock is currently owned by institutional investors and hedge funds.

About Carolina Financial

Carolina Financial Corporation operates as a holding company for CresCom Bank that provides a range of commercial and retail banking financial services in South Carolina and North Carolina. The company operates through three segments: Community Banking, Wholesale Mortgage Banking, and Other. It offers noninterest-bearing demand accounts, interest-bearing demand and savings accounts, money market accounts, time deposits, and certificates of deposit.

Further Reading: Rule of 72

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